In a significant portfolio shift, Steve Cohen's Point72 Asset Management drastically reduced its holdings in Citigroup Inc. during the second quarter of 2026. The firm sold over 1.2 million shares, cutting its position by more than 90% from 1.37 million shares to just under 128,000. This sizable trade was valued at an estimated $174 million and lowered the stock's weight in Point72's reported portfolio to a mere 0.02%.
This activity was disclosed in a quarterly 13F filing with the SEC, which reflects trades made between April 1 and June 30, 2026. As these filings are delayed, the reported position does not necessarily represent the firm's current holdings. The reduction occurred during a strong first half for Point72, which reportedly saw returns of 14.5% through the end of June. Citigroup released its own second-quarter results on July 14, after these trades took place.